Hugo Steiner AG, a subsidiary of the Intercity Group specialising in real estate services, regularly publishes valuable tips for property owners. Recently, the company commented on the question of whether you should keep or sell your home after retirement, because “at the end of your working life, your needs change and your housing situation comes into focus. Anyone who owns their own home may then ask themselves whether they should keep it or sell it. In addition to personal aspects, the financial situation and health issues also play a role when weighing up the options.”

Screenshot der Ratgeber-Website der Hugo Steiner AG

Screenshot of the Hugo Steiner AG advice website

Personal reasons for selling could include the location of the property, but also inheritance considerations, writes the company. For example, the house in the countryside may have been suitable for the family phase, but in old age you want to live more centrally and not be dependent on a car. The house may also be too big for just two people. However, the inheritance situation is not always easy, especially with several heirs, and can lead to conflicts – for example, because one child wants to keep the house and would have to pay off the others. If you sell the property during your lifetime, it is easier to divide up the inheritance later. Finances could also be another reason to sell the property: Often a significant portion of the assets are in it and cannot be used for other purposes. On the other hand, it is often cheaper to live in your own home than in a rented flat. Health aspects should also not be underestimated: If the house has several storeys, this could become a problem in old age.

In its article, Hugo Steiner AG draws the following conclusion: “There is therefore no universal answer to the question of whether you should keep your home after retirement due to the wide variety of situations. However, it is important to include your own home in your retirement planning at an early stage and to consider which solution best suits your needs.